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Page added on November 25, 2012

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Iran Accepts Payment in Gold to Get Around Sanctions

Public Policy

Yet another reason the US government hates gold, unlike dealing with paper money in bank accounts, there is no way they can stop international trade in gold and it is difficult to track gold movements.

WSJ reports:

Turkey on Friday acknowledged that a surge in its gold exports this year is related to payments for imports of Iranian natural gas, shedding light on Ankara’s role in breaching U.S.-led sanctions against Tehran.

The continuing trade deal offers the most striking example of how Iran is using creative ways to sidestep Western sanctions over its disputed nuclear program, which have largely frozen it out of the global banking system.

The disclosure was made by Turkey’s Deputy Prime Minister and top economic policy maker Ali Babacan in answers to questions from the parliamentary budget committee.

EPJ



8 Comments on "Iran Accepts Payment in Gold to Get Around Sanctions"

  1. Arthur on Sun, 25th Nov 2012 3:47 pm 

    “Yet another reason the US government hates gold, unlike dealing with paper money in bank accounts, there is no way they can stop international trade in gold and it is difficult to track gold movements.”

    As well as difficult to print…

    “Turkey on Friday acknowledged that a surge in its gold exports this year is related to payments for imports of Iranian natural gas, shedding light on Ankara’s role in breaching U.S.-led sanctions against Tehran.”

    So Turkey is not that good and reliable an ally? Why should they? Communism is dead, so NATO is without meaning, or rather morphed in a tool for global empire. And now that membership of the EU becomes an ever less likely prospect, Turkey is reconsidering it’s Many options. Like becoming the de facto leader of Islam and core of a neo-Ottoman empire, the main reason why it supports the Western destabilization efforts of Syria. The West wants to topple an ally of Iran, Turkey wants to hand over Syria to the muslim brotherhood, read add Syria to it’s sphere of influence. In the end Turkey will become fundamentalist as well.

  2. MrEnergyCzar on Sun, 25th Nov 2012 3:56 pm 

    I thought Bernanke said gold isn’t worth anything?

  3. actioncjackson on Sun, 25th Nov 2012 4:33 pm 

    Money and hydrocarbons, peak civilization.

  4. Cloud9 on Sun, 25th Nov 2012 7:37 pm 

    Why wouldn’t Iran or any other oil producing nation trade oil for gold or silver or any other thing of tangible value? The greatest scam Tricky Dick perpetrated on the world was to get the world to exchange tangibles for our paper. Brilliant, simply brilliant.

  5. Others on Sun, 25th Nov 2012 8:10 pm 

    On 1 side, Turkey badly needs Iranian Oil & Gas just like USA needs Saudi Oil.

    On other side, they have their own ambitions of dominance of middle east.

    Recently they lashed out at Israel. So in short, Turkey is no more an ally of USA.

  6. Plantagenet on Sun, 25th Nov 2012 9:26 pm 

    This is another example of Obama’s incompetence. Obama wastes time with sanctions on Iran that aren’t working, leaving Iran free to meddle in the wars in Syria and Gaza and continue towards building nukes.

  7. Arthur on Sun, 25th Nov 2012 10:05 pm 

    “Obama wastes time with sanctions on Iran that aren’t working, leaving Iran free to meddle in the wars in Syria and Gaza and continue towards building nukes.”

    Plant, it is new to me that Iran is ‘meddling’ in Syria; the West certainly is. It is certainly not Iran who wanted this civil war; that war in reality was instigated by El Qaida, a US asset, usefull against the Russians since 1979 and their invasion in Afghanistan, as a tool to blame for 9/11 for and now as paid mercenaries, to bring the Muslim Brotherhood to power.

    Regarding nukes, Iran complies to the rules, signed the non-proliferation treaty and accepts inspectors. What more is there to wish for?

    Please explain to me what a ‘competent Obama’ means in this context? One who orders an attack? Are you not afraid that Iran could call your bluff? They do not mind a little collateral damage as the potential gain for them is staggering: total control of all territories bordering the Gulf, including territory that is known as SA today. Plus all the oil in SA and Kuwait and Bahrain. Iran would be the largest oil producer in history, even surpassing Russia. And you know what? Russia does not mind. From then on SCO holds all the cards.

  8. fecteau on Mon, 26th Nov 2012 1:46 am 

    The sanctions against Iran are completely unjustified. Israel has nuclear weapons. If you want to enforce a non proliferation, you first have to ger rid of weapons in countries that have not signed a non proliferation treaty.

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